Buy them outright with cash
- If you have the capital available and you wish to invest you can attain a reasonable investment with the Feed-in Tariff. You can save a reasonable amount of money on your bills over 20 years and insulate yourself from future energy price increases. You will be looking at income and savings of roughly £266 per year from a 4Kw system.
Take out a loan to cover the cost
- If you don’t have the capital then the second option is to get a loan to pay for them. This method will allow for a considerabley longer term investment but will still offer some reward and offer the comfort of protection from rising energy costs. The loan and cost of the system should break even within the lifetime of the system if worked correctly.
- This option for free solar panels is available to those people who either cannot take out a loan or don’t want to pay the high upfront costs associated with the initial purchase of the system. The maintenance costs are taken care of, but you will not receive any of the FIT payments for the 20 year period. You will however benefit from all the electricity they generate and if your home uses a reasonable amount of electricity during the day, then you will realise these benefits with up to a 50% reduction in your electricity bill.